https://www.reviewjournal.com/business/casinos-gaming/fontainebleau-gets-2-2b-financing-on-track-to-open-in-2023-2699257/
History:
The Fontainebleau project started in 2005 by Jeff Soffer, who co-owns Fontainebleau Miami
https://en.wikipedia.org/wiki/Fontainebleau_Las_Vegas
Then the Great Recession hit in 2008.
Carl Icahn purchased the project out of bankruptcy in 2010 for $150M or 1/10th of the $1.5B spent already, but he never restarted construction.
In August 2017, the unfinished resort was sold to investment firms Witkoff Group and New Valley LLC for $600 million.
(4x profit in 7 years!!?! Guess it takes $ to make $)
It was to open in 2022.
Then Covid hit in 2020.
In February 2021, Soffer bought back the project through his company Fontainebleau Development, with Koch Real Estate Investments as a partner.
Soffer named it back to Fontainebleau Las Vegas and intends to open it in late 2023.
Side note:
1) If Fontainebleau opens as planned later this year, that'll be 2 of the 3 projects that started around the 2005 time frame that finally finished.
2) Echelon being the other that finished.
The old Stardust casino owned by Boyd gaming, through twists and turns, became Resort World Vegas which opened in 2021.
3) The last of the 3 is old 'New Frontier' casino, which was located next to the Stardust.
In May 2007, the New Frontier was sold to El Ad Properties for more than $1.2 billion.
Horrible timing due to the Great Recession in 2008. (On the flip side, awesome timing for the owners of New Frontier.)
In 2018, Wynn bought it. It sits across the street from his Wynn/Encore casinos.
Plans for Wynn West casino included an underground connection to Wynn/Encore.
Then Steve Wynn resigned as CEO following sexual misconduct allegations.
Plans for Wynn West were shelved and the land still sits empty.
(I've been following these 3 projects since the mid-2000s. It fascinated me for some reason. And jeez, I'm old.)
"After taking over [the Fontainbleu], Icahn quickly sold all the Fontainebleau’s furniture, rugs and mattresses, then he waited as the unfinished property sat idle."
https://www.forbes.com/sites/nathanvardi/2017/08/30/how-carl-icahn-made-1-4-billion-playing-the-booms-and-busts-of-las-vegas/?sh=298e11161530
https://www.ktnv.com/news/firefighters-respond-to-large-fire-at-fontainebleau-on-the-las-vegas-strip
Overall, 12 fire engines, four ladders trucks, seven rescue units, four Battalion Chiefs, two heavy rescue units, and two air resources responded.
2023 opening date maybe delayed.
/Conspiracy hat
Insurance play failed because someone forgot to turn off the building's fire pumps.
/Conspiracy hat
Also, 118F?
It's dry heat. Noon time street basketball pickup game anyone?
Quote: 100xOddsFire at Fontainebleau on the Las Vegas Strip
https://www.ktnv.com/news/firefighters-respond-to-large-fire-at-fontainebleau-on-the-las-vegas-strip
Overall, 12 fire engines, four ladders trucks, seven rescue units, four Battalion Chiefs, two heavy rescue units, and two air resources responded.
2023 opening date maybe delayed.
/Conspiracy hat
Insurance play failed because someone forgot to turn off the building's fire pumps.
/Conspiracy hat
Also, 118F?
It's dry heat. Noon time street basketball pickup game anyone?
link to original post
As long as it's opened by next August, which is when my next trip to Vegas is currently planned (I know, Vegas in August, but it's timed around other events.)
Also, that's 118F in the shade. Something tells me somebody crazy enough to, I don't know, say, how about, walk from Virgin to the Strip (I resemble that remark), is going to get it a few degrees hotter than that.
Even worst at 3-pm. I used to play about 5 days a week at Vegas High on my way back from work, even in the summertime.Quote: 100xOdds. Noon time street basketball pickup game anyone?
I've made the mistake of opening credit lines at new casinos before visiting them after opening. For someone like me I have to see what's going on, what's available, what sort of limits will be offered, what kind of deal I can negotiate, and at the time the lines are being opened you can't always know. Usually better to just wait.
Looks almost ready.
It's 18yr journey finally coming to fruition.
oh no
Wynn / Encore and Resorts World have a similar sort of curved all glass look you don't like their buildings either?
Quote: MDawgIt was intended to be a residential condo tower, and looks fine for something like that.
Wynn / Encore and Resorts World have a similar sort of curved all glass look you don't like their buildings either?
link to original post
I dont know why but the building shape rubs me the wrong way but i do like the wynn shape
Set to open December 13 at a cost of $3.7B and took 23yrs!
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Anyway:
The 3,644-room resort also represents the culmination of a 23-year journey that started for Jeffrey Soffer, Fontainebleau Development’s chairman and CEO, when he purchased the land back in 2000.
Construction on the hotel began in 2007, but construction stopped the following year due to the Great Recession. The building sat there, 70% finished, for 12 years.
Soffer and Fontainebleau Development, in partnership with Koch Real Estate Investments, reacquired the property in 2021 and charged forward with plans to finish what they had started.
And it's open!Quote: 100xOddshttps://edition.cnn.com/travel/fontainebleau-hotel-las-vegas/index.html
Set to open December 13 at a cost of $3.7B and took 23yrs!
link to original post
https://www.reviewjournal.com/business/casinos-gaming/stars-party-precede-fontainebleaus-long-awaited-opening-photos-2964909/
Quote: 100xOddsAnd it's open!Quote: 100xOddshttps://edition.cnn.com/travel/fontainebleau-hotel-las-vegas/index.html
Set to open December 13 at a cost of $3.7B and took 23yrs!
link to original post
https://www.reviewjournal.com/business/casinos-gaming/stars-party-precede-fontainebleaus-long-awaited-opening-photos-2964909/
link to original post
It is bad form to post links to articles behind a pay wall, as is the case here.
i dont see a paywall.Quote: MrVQuote: 100xOddsAnd it's open!Quote: 100xOddshttps://edition.cnn.com/travel/fontainebleau-hotel-las-vegas/index.html
Set to open December 13 at a cost of $3.7B and took 23yrs!
link to original post
https://www.reviewjournal.com/business/casinos-gaming/stars-party-precede-fontainebleaus-long-awaited-opening-photos-2964909/
link to original post
It is bad form to post links to articles behind a pay wall, as is the case here.
link to original post
I clicked on the link again on a different browser. Saw it fine.
And no, i dont have a subscription to Vegas Review Journal (or any news outlet)
Quote: MrVQuote: 100xOddsAnd it's open!Quote: 100xOddshttps://edition.cnn.com/travel/fontainebleau-hotel-las-vegas/index.html
Set to open December 13 at a cost of $3.7B and took 23yrs!
link to original post
https://www.reviewjournal.com/business/casinos-gaming/stars-party-precede-fontainebleaus-long-awaited-opening-photos-2964909/
link to original post
It is bad form to post links to articles behind a pay wall, as is the case here.
link to original post
It worked just fine for me. It is bad form to accuse others of things they did not do.
Quote: unJonQuote: MrVQuote: 100xOddsAnd it's open!Quote: 100xOddshttps://edition.cnn.com/travel/fontainebleau-hotel-las-vegas/index.html
Set to open December 13 at a cost of $3.7B and took 23yrs!
link to original post
https://www.reviewjournal.com/business/casinos-gaming/stars-party-precede-fontainebleaus-long-awaited-opening-photos-2964909/
link to original post
It is bad form to post links to articles behind a pay wall, as is the case here.
link to original post
It worked just fine for me. It is bad form to accuse others of things they did not do.
link to original post
Mr. V is an attorney. He has done so for decades!
(Teasing. Please no suspension).
Are they affiliated with other casinos or standalone?
I know that themed casinos are out of fashion, but at least they are memorable. It's hard to forget being inside the Venetian or even Circus Circus. With the new crop, however, my memory can only conjure up some generic casino imagery: endless slots banks with table games in the distance and a nearby food area.
The exception to this would be the Wynn and Encore. Perhaps Steve Wynn is the only guy capable of making the generic memorable.
Quote: JohnnyQSo who from the forum will get there first AND take the time to post their first-hand impressions ?
link to original post
It's on my short list to check it out. Maybe even tomorrow (Saturday).
Quote: 100xOddsFire at Fontainebleau on the Las Vegas Strip
https://www.ktnv.com/news/firefighters-respond-to-large-fire-at-fontainebleau-on-the-las-vegas-strip
Overall, 12 fire engines, four ladders trucks, seven rescue units, four Battalion Chiefs, two heavy rescue units, and two air resources responded.
2023 opening date maybe delayed.
/Conspiracy hat
Insurance play failed because someone forgot to turn off the building's fire pumps.
/Conspiracy hat
Also, 118F?
It's dry heat. Noon time street basketball pickup game anyone?
link to original post
https://wizardofvegas.com/forum/info/announcements/33030-todays-gaming-news-ntg/175/#post911531
Overall 9/10
Baccarat: They exclusively deal the commission-free variant where a Banker win on 6 pays 1-2. As a reminder, the house edge on the banker bet is 1.46%. I counted 8 tables. One had a $50 minimum, six had a $100 minimum and one was closed.
Blackjack: I counted 29 tables. Here is a breakdown of the rules. The dollar figure represents the minimum bet.
6-5 6-deck: 25 at $25 minimum
6-5 2-deck: 1 at $25, 1 at $50.
3-2 2-deck: 1 at $100
3-2 6-deck: 2 at $25, 1 at $50
At all tables the dealer hit a soft 17, double after split was allowed, re-splitting aces was allowed and surrender was not allowed.
The few 3-2 tables they have on the main floor have a 0.57% house edge. The 6-5 tables have a 1.93% house edge.
Craps: There were 6 craps tables. All had 3-4-5x odds, 3-1 field and commission buying the 4 and 10 on wins only. One table had a $15 minimum, two at $25, one at $50 and one was closed.
Crapless Craps: There were 2 Crapless Craps tables. One had a $25 minimum and one at $1,000. When I asked about the $1,000 minimum they said it was actually a private table (which nobody was playing at the time).
Dealer Open Pai Gow: This a copycat version of Face-Up Pai Gow Poker. There were two tables, one with a $25 minimum and one at $50
Free Bonus Blackjack: This is a copycat version of Free Bet Blackjack. There were two tables, both with a $25 minimum.
High Card Flush: Two tables, both at a $25 minimum.
Pai Gow Poker: One table with a $50 minimum.
Roulette: Five tables. Four with two zeros and one with three.
Super 4 Poker: This is a copycat version of Crazy 4 Poker. Two tables. One had a $15 minimum and the other was closed.
Three Card Poker: One table at a $25 minimum
Ultimate Texas Hold 'Em: 4 tables. 3 were at a $25 minimum and one at $15.
Next I will report on the tables in the high limit room.
The six-deck blackjack tables have what I call the "liberal strip rules," which are: BJ pays 3-2, dealer stands on soft 17, double after split allowed, re-splitting aces allowed, surrender allowed. The house edge is 0.29%.
The double-deck tables rules are: BJ pays 3-2, dealer stands on soft 17, double after split allowed, re-splitting aces not allowed, surrender not allowed. The house edge is 0.26%.
Here is the table count:
Blackjack:
Six-deck: 4 tables, 3 at a $500 minimum and 1 at $300.
Double-deck: 2 tables, 1 at a $500 minimum and 1 at $300.
Baccarat:
As on the main floor, a Banker win with 6 pays 1 to 2.
10 tables, 3 at a $300 minimum and 7 at $500.
Craps:
One table, which was closed at the time of my visit.
As usual with high-end casinos, there were obviously many small private gaming rooms.
Next, I will report on the video poker and video keno.
$0.25, $0.50, $1.00
Game | Pay Table | Return |
---|---|---|
Jacks or better | 8-5 | 97.30% |
Bonus Poker | 6-5 | 96.87% |
Double Bonus | 9-6-4 | 96.38% |
Double Double Bonus | 8-5 | 96.79% |
Deuces Wild | 20-12-9-4 | 97.06% |
Bonus Poker Deluxe | 8-5 | 97.40% |
Triple Double Bonus | 9-5 | 97.02% |
Deuces Wild Bonus | 10-4-3-3 | 97.36% |
$5.00
Game | Pay Table | Return |
---|---|---|
Jacks or better | 9-5 | 98.45% |
Bonus Poker | 8-5 | 99.17% |
Double Bonus | 9-7-5 | 99.11% |
Double Double Bonus | 9-6 | 98.98% |
Deuces Wild | 25-15-9 | 98.91% |
Bonus Poker Deluxe | 8-6 | 98.49% |
Triple Double Bonus | 9-6 | 98.15% |
Deuces Wild Bonus | 13-4-3-3 | 98.80% |
Your thoughts on the decor / ambiance ?
Quote: WizardHere is my report of the FB high limit room tables.
The six-deck blackjack tables have what I call the "liberal strip rules," which are: BJ pays 3-2, dealer stands on soft 17, double after split allowed, re-splitting aces allowed, surrender allowed. The house edge is 0.29%.
The double-deck tables rules are: BJ pays 3-2, dealer stands on soft 17, double after split allowed, re-splitting aces not allowed, surrender not allowed. The house edge is 0.26%.
Are there any better rules on the strip that you are aware of?
Quote: JohnnyQWizard:
Your thoughts on the decor / ambiance ?
link to original post
I am going to post some pictures soon, which hopefully will speak for themselves.
Until then, the place feels like a nice airport. Like the one in Hong Kong. Colors are white and blue. I thought blue was supposed to be a bad color for casinos, but maybe that was for a prior era. Very high ceiling and everything was very polished and clean. However, it lacks any kind of theme. The whole place seems ... sterile. Maybe once more stores and restaurants open it will convey more energy. For now, a lot of the space for retail is still under construction.
Quote: DRichAre there any better rules on the strip that you are aware of?
link to original post
No. Good question. The double-deck S17 game is tied for the best blackjack rules, with some of the MGM casinos. I believe the MGM, Mandalay, Aria and maybe Park. Alas, this game is confined to high-limit rooms.
Quote: WizardQuote: JohnnyQWizard:
Your thoughts on the decor / ambiance ?
link to original post
I am going to post some pictures soon, which hopefully will speak for themselves.
Until then, the place feels like a nice airport. Like the one in Hong Kong. Colors are white and blue. I thought blue was supposed to be a bad color for casinos, but maybe that was for a prior era. Very high ceiling and everything was very polished and clean. However, it lacks any kind of theme. The whole place seems ... sterile. Maybe once more stores and restaurants open it will convey more energy. For now, a lot of the space for retail is still under construction.
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I liked the lack of a theme. It has Wynn vibes to me.
Quote: PokerGrinderIt has Wynn vibes to me.
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I thought it was the opposite of the Wynn in almost every way.
Quote: PokerGrinderInteresting, I went with MaxPen and he agreed it was a cross between the elegance of Wynn and the flashiness of Cosmo.
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I guess the Cosmo would be the best comparison I could make, because of the big chandelier and most of the stores and restaurants were on higher floors. However, the FB is brighter and less congested. If it didn't gave machines and tables, it wouldn't feel like it was meant to be a casino.
in 2005, the person hired to oversee the FB project (former pres of Mandalay bay) said he predicted that less than one-third of the resort's revenues would come from its casino.Quote: WizardHowever, the FB is brighter and less congested. If it didn't gave machines and tables, it wouldn't feel like it was meant to be a casino.
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Wonder if that's still true since the original owner, through years of twists and turns after bankruptcy, became the owner again and finished the building.
To be fair, status matching is disappearing from Vegas.
Quote: WizardHere are some pictures form my visit to the FountaineBleau. Enjoy!
Wonder what the point of that Citroen was. Yes a cool 1970 or so I assume, classic car, but its connection to the property or its owners?
Quote: MDawgWonder what the point of that Citroen was. Yes a cool 1970 or so I assume, classic car, but its connection to the property or its owners?
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I honestly don't know, there was another gawker besides me, who just liked it. I've liked Citroens ever since my father called them the world's ugliest car. I don't know what he had against them. This particular one has both a classic and futuristic look at the same time.
Here is a picture of one I passed by on Ibiza in September.
Quote: MDawg
Wonder what the point of that Citroen was. Yes a cool 1970 or so I assume, classic car, but its connection to the property or its owners?
link to original post
I hear construction of the car and building was started in the same year.
ba-dum-tss
A random Game King had keno at the $0.05, $0.10, $0.25, $0.50, $1 and $2. All of them followed what I call "pay table 3" at WoO, which has a maximum return of 90.19% on the pick 3. However, in judging the full pay table I like to omit the pick 1 and pick 2, because it is hard to tweak those pay tables to get close to whatever the target is. That said, the average return for the pick 3 to pick 10 is 88.04%, with a range of 87.41% (pick 4) to 89.07% (pick 8).
In the high limit room, a Game King had keno at the $2, $5, $10 and $25 level. The spot keno at the $2, $5 and $10 level was the same "pay table 3" as on the main floor. For a $25 bet they strangely only had Cleopatra Keno, which followed pay table 4 at WoO. On that, the return ranged from 89.99% to 90.28%, with an average of 90.11%.
All things considered, the keno was typically stingy of a nice Strip property. I would assume the same for the reeled slots.
Game | Pay Table | Return |
---|---|---|
Jacks or better | 9-5 | 98.45% |
Bonus Poker | 8-5 | 99.17% |
Double Bonus | 9-7-5 | 99.11% |
Double Double Bonus | 9-6 | 98.98% |
Deuces Wild | 25-15-9 | 98.91% |
Bonus Poker Deluxe | 8-6 | 98.49% |
Triple Double Bonus | 9-6 | 98.15% |
Deuces Wild Bonus | 13-4-3-3 | 98.80% |
Also, the sports book follows Station Casino lines, but is evidently privately run.